Archive for deficit plan

On Thursday, Steve Benen, who edits the Maddow Blog, wrote a commentary on a Paul Ryan "deficit reduction" speech given Wednesday in Cleveland. [...]

Benen notes that the speech was laden with factual errors and rhetorical sleights of the hand, particularly that the deficit which so concerns Ryan and Romney would likely be considerably increased under their plan of maintaining tax cuts for the rich and expanding the military budget by two trillion dollars.

Of particular note is Ryan's plan for a new diet to reduce poverty: starvation. As Benen writes:

In reality, Ryan's proposed budget plan, which was heartily endorsed by Mitt Romney, is simply brutal towards the poor and working families. The plan identifies $5.3 trillion in nondefense budget cuts over the next decade, and nearly two-thirds of the savings come from programs intended to help Americans of limited means. [...]

What Ryan implies in his speech is that by reducing support for the needy, it will force them to find work. This view that somehow the poor, unemployed, and infirm can self-generate jobs is Ayn Rand at her essence.[...]

Expecting those that our society has left behind to create their own jobs is kind of like arguing that one can live on a diet of imaginary food.

On Tuesday, the speaker reiterated what has become known as the Boehner Rule: House Republicans will not increase the debt ceiling again without spending cuts of a greater amount. Mr. Obama, on Wednesday, told him Congress must pass a “clean” debt-limit increase to cover the nation’s obligations; there will be no more deficit deals, he said, without higher tax revenues from the wealthiest Americans... [T]his time the Obama administration believes it has the greater leverage. [...]

Tax increases were part of nearly every significant deficit-reduction measure of the 1980s and 1990s, including the 1982, 1984 and 1987 packages signed by Ronald Reagan, the 1990 accord under George H.W. Bush and Mr. Clinton’s 1993 measure... Mr. Obama’s chief of staff, Mr. Lew, participated in most of those deals, as an aide to House Democratic leaders and then as Mr. Clinton’s budget director.

Norquist is neither an elected official, an authority on anything, nor even a credible person. He is so full of misinformation, lies, and bull pucky, why legitimize him by inviting him to be on any cable news shows, especially ones that refuse to challenge him?

President Obama's campaign made some tasty mince meat of Rick Santorum's deficit cutting brilliance. They maintain that Ricky's ideas would have to "essentially shut down the government or slash retiree benefits to match the president on deficit reduction," per The Hill.

They also attacked Willard Romney's strategy, saying he and Ricky both love them tax cuts and would spend even more money that nobody has on defense, which would add trillions to the deficit over the next 10 years:

"To match the president on deficit reduction, Santorum would have to eliminate all defense and non-defense discretionary spending," [campaign economist Jeffrey] Liebman said. Non-defense discretionary spending includes government "overhead" — salaries, office space, etc. Without it, the government would essentially shut down.

Lieberman said the only way to avoid that would be for Santorum to make deep cuts to retirement benefits for current seniors.

Santorum has vowed to cut spending by $5 trillion over five years, but these cuts do not make up for the tax cuts he proposes, according to the Obama campaign.

“Santorum is definitely operating in fantasyland,” said Liebman, a former deputy director at the Office of Management and Budget. “By far, these are the most unrealistic budget plans I have ever seen.”

Cutting retirement benefits is exactly what they would do, as well as privatizing Medicare, essentially killing it. Just ask Paul Ryan.